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Search Results 0 to 49 of about 89 (some duplicates have been removed)
surveillance, we assessed on the basis of the numbers that were given to us, as well as the forecast of deficit consolidation expected. we did say at the time that the timing seemed too short to us. and you would say that this is being heard? >> yes. >> i guess this is sort of a follow-up question from the previous. >> i see the you are taking notes. >> yes. you mentioned in your remarks that there should be less focused on target, rather more on implemented will measures. -- implementable measures. you said there was a specific target for march that was looming large in that debate. you did mention that, the role of that analysis. but this the emphasis of the target -- deemphasizing of the target, should that be interpreted as the next being less relevant for the continuing fund intervention? if so, does that mean that the long-term target is going to be achieved by the direct restructuring of the junior officials said to participate? and that this can be achieved in a state that may be more politically opportune? such that it does not have to basically be settled by later this month or in oct
of the numbers that were given to us, the measures come in the forecast of deficit consideration that was expected, and we did say at the time that the timing seemed too short to us. pleased to see that this is being hurt. >> i'm jacob from the peterson institute. i guess this is sort of a follow-up question from the previous question about greece -- >> i saw you were taking notes. >> yes. my question really goes, you mention angel remarks that there should be less focus on targets rather than implement a measure. >> with respect to greece, if we go back to march and the process back then this year, there was a very specific target, maybe the long-term 127 was looming very large in that debate and you just mentioned that the role of the debt to sustain the analysis worked. but this sort of de-emphasizing of targets, should it be interpreted as the debt sustainability target in next year you're saying is less relevant perhaps for the continuing fund intervention? and if so, does that mean that the long-term debt sustainability target is ultimately going to be achieved by the direc
directly now. the annotated obama, how 90% of the deficit becomes somebody else's fault. a scathing editorial debunks the president's assertions about all the that he inherited. and frequently joining "varney & company" we appreciate you being with us, mark. >> good to see you, always a pleasure. stuart: good. now, the president says he's not responsible for the debt largely, not concerned about it in the short-term. i put it to you, that this is being irresponsible. he's getting away with it because a lot of people don't understand the jargon, your eyes glaze over when you start to talk about debt and deficit, he can get away with it, but he's dismissing extremely important part of america's financial life and i think being irresponsible. how do you respond? >> i don't think that he's dismissing it at all. in fact, the president said many times that the debt, the long-term debt is a serious problem and that's why he signed over 2 trillion dollars in spending cuts during his administration. but the core question you're raising is, who really is responsible for this. the congressiona
be here doing the major things. people want jobs and have to reduce the deficit and avoid the fiscal cliff. this has been the most unproductive session in congress in all the years and decades that i have been a member. we have veterans benefits that will not be increased unless congress acts, we have people waiting for the government to do its job and it is disgraceful that we went home without doing the things that need to be done. we left for the election campaign at the earliest time in memory. the could have stayed here longer and we would call the republicans to bring this back so we can to the nation's business. the republicans have been extremely anti-environmental, hostile to a lot of the women's legislation, they have harmed the middle-class, poll last year and a half has been simply postures and get all the work that is to be done is not addressing these issues. congress should come back in session. we should be working, not taking this time off. i want to call my colleague chris van hollen. >> thank you, henry. there's a will to get things done. we just had the whistle blower p
of savings, being moderate in consumption, for a government is not to run a deficit. for a country, virtue is to have your balance of payments, if any not in deficit. now, the anglo-saxons are more accustomed to think in systemic terms what happens if each country is as virtuous as germany is? what happens to global demand then and so on and so forth? aren't these cultural aspect glz they are, indeed. >> but they determine everyday policy, if not politics. >> rose: when you look at th the-- has dealing with this crisis and having it on the front burner perhaps not ledo, you know, the end of the euro zone, as some people feared, certainly the membership in part of the euro zone, but may very well have given some momentum to monetary and fiscal and even political union? >> definitely. definitely. the man who found-- founded the concept of the european union in the late 40s and 50s, john monet. >> rose: a frchma >> said that the integration of europe will grow through crisis. and he was very right. also in that respect. because you see, when we have a serious crisis like undoubtedly the euro
to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia ar
of many. a singular focus on employment in the deficit had taken the wind out of the sales of issues such as these, and, yes, they are critical and linked to jobs and social >> we have done six licensing studies, and taken a look at laws and regulations to see what states are doing, and what we found is really not ok. the average score for centers in our reports is 87, which i do not want to get into. it is about 58%. that would be a failing grade in any classroom in america. we just came out with a report. i do not know if you have seen it. it is called "leaving children to chance." this report can add a couple of months ago and it looked at what is happening in homes. 4 d's. one b's, 4 c's, the 10th state, massachusetts, failed, and they were in the top 10. -- i think iith heard the first remarks say investment in child care and early learning. i do not think it is child care and early learning. i think for parents and many children, child care is an early learning program. on average, 11 million kids, about 35 hours a week, so for those lucky enough, 1.3 million children in pre-k
% growth in gdp. what he's referring to the fact we're not going to let this increase the deficit. and so the growth in revenues as a result of the economic growth is going to pay for that in part, and we're also going to make the tax system flatter and fairer and simpler which is something else conservatives have wanted, which is also pro-growth. and that's the part the governor is emphasizing. >> he says don't expect any big tax cuts. first of all, you guys ought to pledge to the middle class those middle brackets. i'm not talking about the upper. the upper should lose their tax deductions and everything should be on the table. but i'm talking about the brackets that are around 15% to 28%, jim. that's where the take home is going to rise. you ought to say we're going to leave your deductions alone. we're going to take it out of the high of the upper income people because we're giving them a big tax cut. the middle class, he shouldn't even suggest they're going to be tax deductions. i wrote a column about this. i said use reagan's slogan. use reagan's slogan. all right. take-home pay, th
came in office. i inner hadited the biggest deficit in our history. the last four years it went up and 90 percent is consequence of two wars that were not paid for and tax cut that is were not paid for . prescription drug plan not paid for and worst economic crisis since the great depression. that accounts for 10 percent of the increase in the deficit. >> brian: front page of the new york times. stuart rather thaney it is over one trillion. every budget when they do the math he is over budget by a trillion dollars. >> gretchen: he said 10 percent. wars and the horrible recession he was begin that only accounts for 10 percent. >> yes. >> gretchen: what about the other 90 percent? >> steve: george bushes fault? >> gretchen: i am anding a question. >> you are exposing the attitude of the establishment media to all of president obama and his economic record. break it down. the president said i am only 10 percent responsible for a massive accumulation of debt. he is a big spender, a very big spender and that's the principle reason why we have a massive deficit of trillion a year. he has
. the 2012 budget had 64 billion euros worth of austerity built into it. that was designed to get the deficit levels right back to those iconic levels, but they missed on their deficit star get last year and they'll miss on this year. they're hanging on to #.5% bond you this believes if not reable because austerity on top of a recessionary environment is a toxic mix. >> the ecb saying spanish bank deposits down 1.1% on the month in august, which means they're now the lowest level since april 2008. and we've got a prime minister there who has effectively said to the markets come out and short me because we're not going to go for a bailout unless webo costs go higher. and he's trying to delay aid until after the catalonia elections. and that seems like a pretty thin tight rope to walk. loan i. >> and we'll get the report on just how much money the banks need. it is suspected it will be in the 60 billion plus. but the elections on october 21st, that's rajoy's own province. and then you have the cat lo loaniloa loanian region think they're the richest region giving too much to the others. the res
have started looking over. we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between qe and pursuing months. so i think we'll see it push higher. as we see the race to the base, it can only be good for the gold price and obviously an even more interesting place, the gold miners. >> i just want to point out this tie isn't because i'm long gold. it's actually because i'm supposed to be matching, see that, this is the -- >> you need to be in a blue tie. >> there's some yellow in there, fwr greg. should have worn a yellow shirt. >> next time. >> not that you should take any fashion advice for me. so what about the reaction to that chinese data? li has the detail
will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that's what we've been picking up, that in the background of all these guys working on the deal already. soon after the election, our best guess is that there will be one. not too different from that story actually. >> qe-3 meanwhile, how does that play? does that continue to support lift asset prices? how do commodities get in the wash between slowing chinese growth and fed action? >> that's a good question. because i think it's a big one. i think we're not three weeks into qe-3 yet and the populous mind set of the markets is that we're done qe-3, let's move on to whatever's next. qe-3 is in my opinion very different fr
that governor romney has the advantage when it comes to the issue of the debt and the deficit. wendell is live at white house this afternoon. wendell, how big is governor romney's lead on the deficit issue? >>guest: four points. a new poll, after four years of trillion dollar deficits, that may not be ohio voters' most important economic concern given they prefer president obama as governor romney as the candidate who does a better job on the economy. a spokesman said "as time progresses the field is looking like it is narrowing for them. in that sense we would rather be us than them." romney officials accuse the obama camp of spiking the ball on the 30-yard line. press secretary carney said the real question is, what would the replacement refs do if someone spiked the ball on the 30. >>shepard: that is an interesting point. chinese trade practices on the campaign trade today was a talker. >>guest: rather than the auto bailout which is usually the subject in ohio, mitt romney says that china's cheating costs jobs. he promised to crackdown on subsidies and currency manipulation. the president h
the deficit and debt. virtually every poll. who's better equipped to deal with the deficit and debt. the more they play to the religious right on social issues, the more they risk alienating these centrist voters. >> did you disagree? >> absolutely. the latest polls show that people trust obama more now with the economy. this economy issue solely is a losing issue for romney as the economy improves, but also it fails to reck thiz people care about other things other than just the economy. >> pastor jeffers, if i may, i was making the distinction about not just the economy, but deficit and debt. so, i appreciate your desire to have your nominee really focus on playing to the base in the religious right. that is your prerogative, but you can't rewrite polls to say that's a winning strategy when it comes to reaching out. >> what i'm saying to you is that i think the hunt for these elusive independent or undecided voters out there is going to be a losing strategy. it was in 2008 for john mccain. i think it will be this time. i'm not saying he has to make these social issues the heart of every stu
and greece are doing is trying to cut the budget deficit with 25% unemployment, and doing it when bond yields are too high to be able to dip into the market, especially for greece. so these countries have been forced to do this by the markets, brooke, not by politicians. their hand has been forced and now they're telling their people on streets they have got to be the ones that suffer the most. ironically, of course, the u.s. treasury have benefitted from all the european upheaval. it made it easier for the u.s. not to make the tough choices at this moment. any country trying to cut the budget deficit, it is harder to do while that country is in recession. it actually makes the recession worse, which makes it -- it has to be more cuts in order to meet the deficit targets. it is nearly impossible to see how the countries can do that. >> so you point out, you negotiation unemployment rate 25% in spain, running down more numbers, 54% of greeks under age 25 are unemployed. are major spending cuts raising retirement age here to 67, will that work for spain and greece? >> well, over time it should
voters have no idea what you're talk about. >> the number in the times front page story about the deficit and, you know, the fourth straight year of trillion plus deficit, these are things that concern -- >> the american voters. >> and a number that resonates. talk about trillion dollar deficits an every normal person is going to go what are we doing. >> let's be clear about that ad. the ad is a strong ad, but generally candidates do straight to camera ads when they feel like they're in trouble. president obama did his one and only after the welfare ads started to hurt him, you didn't build that, he went straight to camera. romney's ad is a response to the 47% and what that's doing to him in places including ohio and to go back to curt's point about why romney is personally beyond the economic numbers, the president has had a problem with white working-class vote es for a long time. worse in the south than in the industrial midwest but still there in the industrial midwest. mitt romney is almost like -- almost the jerry built to be the worst possible candidate to talk to white working-cla
points. first of all, defense will and can make a contribution to deficit reduction. secondly, this is not the way. the sequester is the worst way to go about reducing defense spending. thirdly, the right way to do it is to go after taxes, raise tax revenue and cut the entitlement programs, which are driving long-term spending growth and debt creation in this country. it's not defense, which is on a relatively stable downward path. so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companies in terms of how many jobs they're about to cut because of it. so what's the best way to do it? >> keep in mind nobody wants the sequester to happen. maybe chris and his colleagues at catos are an exception. the idea of a sequester is so awf awful, it would cut so deeply into spending, it should never happen. it's a
raised levels of almost 4% of gdp in 2010 and we see that today deficit is tomorrows taxes and the market always punishes the lack of fiscal irresponsibility. that is why expanding the public debt is to stimulate the economy and we understood that. once you do if you have to take measures to rebuild your finances. the big mistake made by the many economy starting the crisis was to forget that we can use the public deficits like this. but if you try to use it on a regular basis, you will face sooner or later problems in the deficit and that is exactly what is happening with several economies in europe right now. that is why we've put in place an exit strategy to regain the fiscal balance including several painful measures. for instance increasing the tax revenues come producing the public expenditures, promoting the reforms and the deregulation program. we also sit down with a very inefficient energy company which saves the government more than $5 billion a year in subsidies. thanks to the fiscal discipline, the public debt is a historical low level. more than twice the amount of the total
to curb out debt and deficit. but the president is ahead on who's better to get the economy back on track. steve liesman is here with the disconnect. >> we've been puzzling over this all day. i want to show you the results we have from our national survey of 800 americans. take a look on the economy. who would be better over the next four years. first of all, we asked people, are you better or worse with compared to the last four years? no question here. 55 to 27 definitively, things are worse. what about who's better over the next four years? obama beats romney by nine point. that's more than other surveys out there. caution here, weak survey. other surveys more interested in the political side. they survey registered and likely voters. how about jobs? six to two, worse on jobs. who's better? obama wins. the one place where romney wins is as maria said, on the next one, on the deficit. overwhelmingly, people think the deficit is worse than it was four years ago. they're right. they say romney, only within the margin of error, which is 3.5%, plus or minus on this poll. take a look at the
market companies? and what do we do about the deficit? >> john, it's great to have you on the program. thank you so much. >> thanks, maria. >> john thain joining us as chairman and ceo at cit. let's get to brian shackman. >> fascinating to look at this. they beat on eps and revenue. the the revenue was 6.67. take a look at the stock. it is dropping and continues to drop. now down 4%. it's been a percent every two minutes during that thain interview. we were looking at margins, looking at china, and the u.s. margins were compressed. that's a negative. china was better than expected. that's not offsetting things. u.s. was better than expected. that's not offsetting things. europe was supposed to be up 3.4%. it was down 5%. they paid more in taxes. their sg&a means they're spending more than they're taking in. it's a mixed bag. >> all right, brian. thank you so much. meanwhile, we told you research in motion out with earnings. the stock is soaring in the extended hours trading session. what does that mean to investors in we have the analysis on r.i.m. next. >>> and would you spend twice
bonds because they now have a pension deficit. that's nonsense, of course. what's happening on the corporate side? they're awash with capital. are we also getting less issuance and how much more money do corporates need to have? >> what's interesting is the eurozone credit market is shrinking year on year which is the first time it's done that for a long time. there's not only less issuance, there's less coming out to meet, retiring effectively. corporates as kelly said earlier, the economic outlook is not rosy. the motivation to carry out m&a activities is relatively low. so i expect the trend to continue. >> and the quality they're issuing isn't all that great either. >> the good quality have all the cash they need. so, you know, they don't need any who are. >> most of them have the cash. i think the good quality borrowers can borrow really easier. there's huge 2k3457demand for h the spreads are tight. >> angela merkel and mario draghi are both delivering speeches in berlin today. organized by the bdi which represents large and small enterprises, the day of industry is int
's pleading for two more years in which to cut the greek deficit. european leaders say it will really depend on whether greece quickens the pace of reform. we will know more within a matter of weeks when the greek international lenders publish their support, their assessment on how greece is doing. if it is a largely positive assessment, maybe he might get a little breathing room. maybe he might persuade angela merkel of germany and france want hollande -- francois hollande of france to give him some breathing room. greece could face immense political instability to add to its financial woes. >> thank you very much. austerity strikes under way in greece. the streets of the spanish capital madrid are calm after a night of violent protests. riot police fired rubber bullets at demonstrators who tried to march on the parliament building, angry at their governments' efforts in spending cuts. now this report from madrid. >> many in the crowd were young. this protest was organized by social media. -- via social media. it was more expensive than other recent demonstrations -- more tense. thousands g
democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a different dynamic. really going to do that. you want to make a deal with republicans and he is the guy to do it but larry as different depending on how you approach it. the wall street firms are going around. with larry taking the job, and natural successor at black rock. i just -- maybe he does. melissa: such a massive pay cut. [talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: t
if it had not happen we would be talking about economy, deficits, jobs and affordable care act. if mitt romney is going to use this successfully he needs not only to make this critique and point out this is broader frame as seeing the president disengaged not up to the job, giving it his best and failing on behalf of the american people and relate that to the dough messtic economy as well. bill: when the debate number one is rather is week from today. carl, thank you. karl rove in washington on that. here is martha. martha: there are violent protests breaking out about big government spending cuts. look at these scenes. why thousands of people are taking to the streets in spain and what it could mean for your wallet here at home. we'll be right back. [shouting] [gunfire] [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. we're not in london, are we? no. why? appar
. you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not impressed because i think that we have lost the last three years. since the crisis that started in 1988 -- 1998 and 1999, we knew we have not been able to tackle the real causes of the crisis. it has not been done in europe. it has not been done in the u.s. we are talking too much and doing too little. >> now, if this was any leader in latin america, perhaps people would ignore him, but this is the president that's running strong free market economies and policies, and that's why when somebody like this harvard ph.d. economist speaks, president as well, suzanne, people listen. of course, it reinforces what cou
the republican party has gotten lost. we cannot afford any tax cuts. we have to deal with our deficit. that will mean spending cuts for everybody. dagen: is it a mistake to run on this at all? how can you focus been on, because the issue is growth and jobs. how do you run and talk about that without linking tax policy to it somehow? the opposite would be saying we will get rid of these deductions. some people taxes will go up. that will not win you to white house, will it? >> both parties have been -- we cannot afford to give anybody anything anymore. we are broke. we are running a trillion dollars deficit. once we start paying a real normal interest rate on that 20 trillion, it will send the budget even deeper. dagen: all of what you are saying makes perfect sense. i have argued for years that the american people will not vote to pick that until they feel it is home. runaway inflation like the 1970s and skyhigh interest rates like people saw 30 some odd years ago. that is not the case today. if it was laid out just like that, do you think they would vote based on that? >> i think the
cuts as the government tries to reduce its heavy deficit. as turmoil and tension in the euro-zone escalates, there remain questions about the longevity of the euro currency. today, italian prime minister mario monti said he doesn't think any country will leave the union. erika miller reports from new york. >> reporter: as italian prime minister mario monti left today's event, he dodged reporters and walked straight to a waiting car. earlier at the forum, it was a different story. calm, cool and collected, monti stayed carefully on message. he made it clear italy is better off as part of the european union. >> the euro brought to italy a single currency, shared with all the others, that is very important economically. >> reporter: monti also emphasized the benefits of the common currency for other member countries, like germany. >> thanks to the euro, germany was able and is able to have a huge european market free from the risk of competitive devaluations. >> reporter: euro-zone worries have roared back this week, thanks to violent demonstrations in spain. today, the spanish
Search Results 0 to 49 of about 89 (some duplicates have been removed)